When direct labor costs are recorded, the journal entry is a debit to Factory Wages Payable and a credit to Work in Process Inventory.
Answer the following statement true (T) or false (F)
False
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Feathertouch Company sold merchandize worth $800 on credit, terms n/15 . The merchandize sold had cost $550 . What is the required journal entry to record the transaction and to transfer the cost of merchandize inventory to cost of goods sold under the periodic inventory system?
a. Accounts Receivables 800 Sales 800 No entry for transfer to cost of goods sold. b. Sales 800 Accounts Receivables 800 Merchandize Inventory 550 Cost of Goods Sold 550 c. Accounts Receivables 800 Merchandize Inventory 800 Cost of Goods Sold 250 Merchandize Inventory 250 d. Merchandize Inventory 800 Sales 800 Cost of Goods Sold 550 Merchandize Inventory 550
Upon making a credit card sale, a business should record the sale as an accounts receivable until the customer pays his or her credit card bill
Indicate whether the statement is true or false
When companies discover they can communicate better with their customers through employees who are similar to their customers, those companies then realize they have increased their ________ diversity.
A. secondary B. primary C. internal D. external
On a certificate of deposit, the bank is the maker and the depositor is the payee
Indicate whether the statement is true or false